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Market Updates

Kitchener – Waterloo real estate market recap: March 2019

By April 7, 2019No Comments

In March, there was a 5.7% decrease in home sales compared to March in 2018, down 7% compared to the previous ten-year average for March.

 

“The average number of sales in March was brought down by fewer semi-detached, townhomes and condos. I think this can be credited to the lack of inventory and options buyers have in those segments of the market.”

Brian Santos, President of KWAR

March Sales Breakdown:

  • 325 Detached Home Sales
  • 45 Condominium Sales
  • 116 Semi-Detached Home Sales
  • 25 Freehold Townhouse Sales

The average sale price of all residential properties sold in March increased by 3.4% to $505,855 compared to March 2018.

Average Home Price:

  • $585,668 Detached Homes
  • $320,857 Apartment Style Condominiums
  • $372,003 Townhomes
  • $422,360 Semis

The median price of all residential properties sold in March increased by 3.9% to $474,900.

Market recap from Brian Santos, President of KWAR:

“Sale prices across Kitchener-Waterloo and area experienced increases in March…While pundits are focussing on affordability challenges, this also reflects the greater attribute of livability and how Waterloo Region offers a great quality of life.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/home-sales-slide-in-march/

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